News

You might not realise it, but did you know that the economic crisis began in 2007? So we have already five years of considerable turbulence behind us. Now, a lot of house owners would like to know if it is viable to believe in a more positive future .

Home owners want to know whether it is a good idea to sell their property, and how much the property is worth. They are expecting to achieve the original price, even though everyone knows that pension funds are evaporating, interest on savings has dwindled and hidden inflation is everywhere.

House prices in the south of the Costa Blanca continue to fall and currently have an average of 40% of the original value. Nonsense? No, most houses that are being sold are heavily discounted.

It is a buyers market and householders realise that the ideal price is not always workable. The neighbor who just sold their property will rarely tell you how great the "loss" was. Our advice here is: do not sell your house because right now - you may think you could win the lottery, or you have had a wonderful time in your beautiful house in Spain for maybe 10 years so it is time to sell up, at any price.

Here´s a spin to this "terrible time" :

There appears to be few safe alternatives for your investments.

Despite the fact that the banks tell you that they are safe again , there still remains a major risk for when it comes to investment with banks and related financial institutions.

The intelligent reader will say: "But I still have a gain !" That's true, but with the Euribor (the European interbank rate) at a 12 month low, currently 1.9%, your savings in the bank cannot compensate the rising inflation. What you earn in interest on savings does not pay to offset the effects of inflation.

The moral here is simple. You must do something with your money. Doing nothing is not an option and surely when the economy continues to contract. Real Estate investment, in the long run, is still by far the safest bet. The time is now for those who are financially able to invest in real estate on the sunny southern Costa Blanca!

About BGE

BGE is a unique business-to-consumer organisation whose aim is to promote new business between the members through referrals & recommendation.

A fundamental principle of the group is that all members are legally registered in Spain and qualified in the business in which they operate, and are therefore able to achieve the standards and quality required by the BGE. As a consumer you can deal with any BGE member safe in the knowledge that the member will be honest, and trustworthy and that any service or product purchased will be of quality and at a fair and reasonable price.